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    « International Investing | Main | Risk and Investment Time Frame »
    Friday
    Sep242010

    Some thoughts on paying for college

    DateFriday, September 24, 2010 at 10:02AM

    Investments: Episode 14

    My friend Don Martelli (@BigGuyD on Twitter) suggested I share some thoughts on "saving for your kids college career." I suspect this will be the first of many, many, many shows where we touch on this topic. There are advisory firms that specialize in college planning so it's a pretty big topic.

    Next to retirement, college funding is usually the most important goal for people with children. And while retirement is a much bigger goal, education tends to be much more of an emotional goal.

    There are several ways to pay for college:

    • Cash from income
    • Cash from savings
    • Student loans
    • Grants
    • Scholarships

     Popular Savings Vehicles:

    • 529 Plans
    • UGMA/UTMA Accounts

    Things to keep in mind:

    • There is no financial aid for retirement
    • Teach kids a mindset of value for education. Big name schools are great but they come at a price. Do you need that big name? Is it worth graduating with a mortgage?
    AuthorMike Langford | CommentPost a Comment |
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